Pandora's $80 Million Q3 Earnings Tops App Chart
Pandora's $80 million Q3 revenues for 2017 made it the top-grossing revenue earner for a nongame app, as reported by TechCrunch.
This past April, the streaming service fully launched its new Pandora Premium subscription tier, aimed at competing directly with Apple Music and Spotify — which is thought to be the key driver that helped the service hopscotch its rivals and top the app chart.
According to the data, compiled yearly by SensorTower, Pandora's new premium service helped grow revenues by more than 142 percent year-over-year, amid an industrywide combined revenue growth of 67 percent YOY for all nongaming apps. By comparison, overall YOY growth for Q2 2017 was 57 percent, indicating there's likely still a large amount of market headroom remaining before in-app subscription revenue, and that rate of growth could continue to accelerate into and through Q4.